A county operates a landfill, reported in an enterprise fund. For fiscal 2020, operating expenses are $18.9 million, of which $2.3 million is depreciation on landfill facilities and $16.5 million is paid in cash. At the start of fiscal 2020, the enterprise fund reports a liability for future closure and postclosure care of $20.7 million. At the end of fiscal 2020, the estimated current cost of future closure and postclosure care is $70 million, and the landfill is 40% filled.
Required
Prepare the journal entries to record the above information in the landfill enterprise fund.

Question

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The Answer of A county operates a landfill, reported in an enterprise fund. For fiscal 2020, operating expenses are $18.9 million, of which $2.3 million is depreciation on landfill facilities and $16.5 million is paid in cash. At the start of fiscal 2020, the enterprise fund reports a liability for future closure and postclosure care of $20.7 million. At the end of fiscal 2020, the estimated current cost of future closure and postclosure care is $70 million, and the landfill is 40% filled.
Required
Prepare the journal entries to record the above information in the landfill enterprise fund.

A County Operates a Landfill, Reported in an Enterprise Fund